Values-Based Franchising: How to choose a fulfilling franchise
David. Greenberg
Corporate Exec Turned Entrepreneur, Multi-Unit Franchise Owner | Franchise Consultant, Helping Others Do the Same | Own Six Prosperous Franchises | Leveraging Decades of Experience, Guiding People to Franchise Ownership
If you’re like most people, you need more than just a paycheck to feel motivated and fulfilled at work. In fact, a recent survey of 200,000 workers found that positive relationships with colleagues and professional growth were more important motivators than pay. Many people also cited the need to make an impact, or to do work that aligns with their values. Maybe this has always been a priority for you, or maybe you’re considering it for the first time. Either way, you’re probably already aware of the most obvious values-based career choices – fields like medicine, education, or the ministry. But did you know that you can also pursue values-based franchising?
If you’re a values-driven individual, keep reading for tips on which kinds of franchises may be the best fit for you. This list is based on some of the most common values that people prioritize: family, education, mentoring, and helping those in need.
Values-Based Franchising: Family Values
If your family is the most important thing in your life, you probably value a good work-life balance . A steady diet of 60-hour workweeks is not for you. In this kind of situation, I suggest looking for home-based franchises . Home-based work reduces time spent commuting and usually allows for a flexible schedule, so you can more easily balance work with responsibilities such as child care and errands. Franchises that fit this description are usually personal service franchises. Examples include:
If you have significant resources to invest and a strong leadership background, you should also consider executive franchising . An executive franchisee purchases multiple brick-and-mortar locations and hires one or more managers to operate them. The franchisee oversees strategy, growth, and big-picture financials. Once the business is past the launch period, the owner only has to invest 8-10 hours per week to keep it running. Whether you’re a parent of small children or a grandparent who wants more time with the grandkids, this kind of setup is ideal.
Values-Based Franchising: Education
Focusing on education is a way to help others reach their full potential. Many people who value education become teachers, school administrators, or college professors. That road is not for everyone, however. In fact, many current teachers are quitting the field due to burnout, lack of support, and workplace risk.
If you have an educator’s heart but don’t want to work in a traditional school environment, consider owning a tutoring franchise. Some are generalist businesses that cover every subject, while others focus on a core subject or two, such as reading or math. All give you the satisfaction of helping kids succeed in school. Want to work with adult learners? Consider a coaching franchise. Through these, you can help people develop career skills, financial literacy, or a better understanding of what matters most to them.
Bonus: depending on your specific priorities and resources, you can manage these businesses as an owner-operator (where you work directly with the clients) or as an executive owner (where you hire and support employees who do the tutoring or coaching). Either way, you’ll be providing a resource that makes a difference in people’s lives.
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Values-Based Franchising: Mentoring
I’ve mentioned before that mentoring gives me joy. As a corporate executive, I loved identifying employees with potential and giving them opportunities to learn and grow. Now, as a franchise consultant, I get to mentor people through the franchise selection process.
If you also value mentoring, I’ve got good news: you’re the perfect fit for values-based franchising. In your case, I recommend a brick-and-mortar franchise , one where you can work alongside or meet regularly with employees and help them grow with your business. You may also want to explore franchises that provide umbrella locations for self-employed professionals, so that you can use your experience to help them grow their own businesses. A partial list of options includes:
Values-Based Franchising: Helping Those in Need
If you want to help those in need but feel more suited to business than to the ministry, nonprofit world, or a field like medicine, you don’t have to give up on your dream. Many service-based franchises focus on helping others, such as people who are ill, unable to live independently, or who have experienced a disaster. These franchises need caring, mission-driven owners who want to provide help at a difficult time in people’s lives. If that sounds like you, look for the following kinds of franchises:
Hopefully, this post has helped you see that franchising isn’t just for people who want to build wealth . It’s also for people who want to live their values – not just in their spare time, but every day. Want to learn more about values-based franchising options? Book some time with me or my team , and we’ll be happy to help you start the process of finding a business that will help you put something good out into the world!
This content originally appeared on https://empoweredfranchisee.com/ .